Holmes, Mark J.; Wang, Ping - In: Economia Internazionale / International Economics 55 (2002) 3, pp. 351-364
This study investigates whether or not UK industrial production is characterised by a nonlinear response to monetary shocks. Our methodology is based on logistic smooth transition vector autoregression modelling where we employ monthly data for the period January 1960 to August 1999. We find...